Syrian Center for Policy Research:

• The bulletin provides an independent assessment of consumer prices and inflation rates in all Syrian regions based on a monthly survey of consumer prices carried out by the Syrian Center for Policy Research (SCPR) since October 2020. The SCPR had developed a methodology for building a price index based on components of the consumer basket, weighting, and market selection (See SCPR’s Consumer Price Index in Syria)
• Syria witnessed a Month on month (M-o-M) decline in the Consumer Price Index (CPI) of 3.9 per cent in May 2025, with a Year on year (Y-o-Y) inflation rate of 8.6 per cent compared to May 2024. This improvement coincided with the appreciation of the Syrian Pound (SYP) against the United States Dollar (USD), following the issuance of General License 25 (GL 25) by the US Department of the Treasury, which eased some sanctions on Syria.
• Consumer goods prices in all SYP-Governed Areas (SYP-GA) recorded a notable decrease during May 2025, ranging between 0.7 per cent and 6.1 per cent. Tartous governorate led this decline with 6.1 per cent, followed by Hama governorate with 5.9 per cent. In contrast, TL-Governed Areas (TL-GA) witnessed price increases; Idleb governorate recorded a rise of 4.6 per cent, and the TL-GA parts of Aleppo countryside recorded a rise of 6.6 per cent compared to the previous month. These data reflect that the economy of Syrian regions remains fragmented, where each part is influenced by the prevailing currency and local conditions, rather than being subject to a unified monetary policy.
• The 3.9 per cent decline in consumer goods prices in May 2025 was primarily driven by three main groups. The “Housing, Electricity, Water, and Gas” group was the largest contributor at 45.5 per cent, followed by “Food and Non-Alcoholic Beverages” at 27.8 per cent, and finally the “Transport” group at 12 per cent.
• The SYP witnessed a significant improvement in its value against the USD in the informal market during May 2025, as the dollar value declined by 5.2 per cent, bringing the average exchange rate to SYP 10,543 per USD, while the month closed at a rate of SYP 9,086.
• The Central Bank of Syria issued a new circular allowing depositors to withdraw fully from their current accounts and term deposits without a specified limit. However, this decision is restricted to accounts deposited after May 7, 2025 (Circular No. 1831/16/S), keeping restrictions in effect on old deposits. At the same time, exchange companies continue to disregard the official dollar rate set by authorities at SYP 11,055, adopting the parallel market rate when delivering remittances, which deprives beneficiaries of at least 15 per cent of the actual value of their remittances.
• Income data for May 2025 revealed substantial disparities in wage levels across different sectors and regions in Syria. The average monthly wage for a newly appointed university graduate in the public sector amounted to approximately SYP 634 thousand, while the average wage for a worker in the private sector reached SYP 1.06 million, and the civil sector employee recorded the highest average wage at around SYP 2.3 million. A comparison of nominal wages showed a direct correlation between income levels and the currency used, as wages in TL-Governed Areas (TL-GA) were the highest in most sectors. It is worth noting that unskilled labor wages showed greater convergence between regions compared to government employee wages.
• The household abject poverty line, which acts as an indicator of food deprivation, reached SYP 2.5 million monthly in May 2025. The lower poverty line amounted to SYP 3.93 million, while the upper poverty line reached SYP 5.43 million. Poverty lines recorded their highest values in the governorates of Damascus, Homs, Rural Damascus, and Dara’a, while their lowest values were in As-Sweida, Al-Hasakeh, and Lattakia. These indicators suggest that current wages for government employees in all three regions do not cover the minimum necessary goods and services for a decent life. This points to a deep and ongoing living crisis, highlighting the urgent need for economic interventions and policies to mitigate inflation and ensure individuals’ ability to meet their basic needs.
  

  

Categories: Bulletins, May, Monthly Bulletins, Monthly Bulletins 2025, Publication

Tags: Monthly Bulletin, SCPR, Syria